Notice of Meeting, page-3

First 3 Last

Share
Profile

Follow
Vistica

6,543 Posts.

2

28/09/16

15:11

Post #: 19480760
Share

Originally posted by Griffopj ↑

This is the content I sent to Empire to be included in the Notice of Meeting:

Dear fellow Shareholders,
I have taken the step of nominating as a Director of our Company. I have been a shareholder for many years and in 2013 I supported the change of our Board. At the Annual General Meeting I told our Chairman that he had my support. I told him that there was a lot of pain in the room and amongst the shareholders. We, you and I, were made many promises. I ask – how many of those promises do you believe have been delivered?
Since that time my trust and faith has been eroded. The key measure for performance of our company in my opinion is the share price. We have seen our share price devalue from $1.50 (adjusted) to our current price of 30 cents. It’s time for change, three years is long enough for the current Board to implement strategies, and unfortunately they have not been successful in my opinion. We were promised that they would unlock shareholder value. My investment is one fifth of what it was. I am disappointed and frustrated.
I am concerned that even though the Company has earned millions of dollars in revenue we have no savings; we have not retired any of the debt associated with the ERM Transaction – that debt has now transferred to MIN. It appears that all our revenue is being spent on supporting administration costs and personnel. Our drilling program has stagnated with the one drill project in three years requiring unbudgeted remedial works to be carried out.
I was sent a notice in relation to defamation proceedings by the former Directors. In December 2013 action in the Supreme Court WA was commenced to recover legal costs for our company. When was the last time we shareholders were given an update of the progress of the proceedings?
Why should you support me? I am a shareholder, I bought all my shares – none were given to me for exertion. I have had enough and it is time this Board stepped aside and gave other people the opportunity to succeed. I am fully employed and have been since leaving school. I have a Commerce Degree, Business Law was my forte. Above all else I bring one quality to the table, an enquiring mind which delivers common sense outcomes.

Expand

wow griffo,go for the jugular,you have the credentials to burn.
mate don't hold back,let it rip.
the s/holders need someone with fire in his belly,to make our little coy prosperous.
I,ve had enough shit from this current mob.

EGO Price at posting: 29.0¢ Sentiment: Buy Disclosure: Held
8 Upvote

0 Great analysis

Reply

Top Stories

Trump Victory Sends Bitcoin Surging Above $75K – Is $100K Next?

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

IMU

Imugene kicks off Australian trial for blood cancer treatment

MMI

Metro Mining inks bauxite offtake contracts into 2026 with Chinese m

Trump is President Again: What Does This Mean for Crypto?

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

FG1

Flynn Gold reaches milestone exploration target for Golden Ridge

UBI

Universal Biosensors flat despite fresh deal with US medical product distributor

Week 45 Wrap: Combat sports usher in Trump 2.0 – or is it male insecurity?; RBA boring; Propane suggests China alive

HotCopper Highlights: Your most watched and most discussed stocks this week